State Bank Of India (SBI) Interest Rates, Withdrawal Limit, Charges And Other Details.

State Bank Of India (SBI) Interest Rates, Withdrawal Limit, Charges And Other Details.

Fixed deposits (FDs) or term deposits offered by State Bank Of India (SBI) offer interest rates starting from 5.25 per cent on the lowest tenure of seven-forty five days. The largest lender of the country offers several other facilities on FDs like guaranteed returns and premature withdrawal, SBI said on its website sbi.co.in. “Park your lump sum amount in an SBI Term Deposit and avail of features like guaranteed returns, choice of interest payout, liquidity through OD or premature withdrawal. Invest today through OnlineSBI or by visiting your branch,” SBI said.

Details of fixed deposits offered by State Bank Of India:
Customers must make a minimum deposit of Rs.1000 while there is no limit on the maximum deposit.

Payment of Interest on State Bank Of India Fixed deposits:
The interest on SBI FDs will be paid on monthly/quarterly/calendar quarter basis as per the customer’s requirement, said SBI.

The payment of monthly interest will be at discounted rate. Interest will be paid at the contracted rate irrespective of change in the rates thereafter.

Accordingly, the interest rates for Retail Domestic Term Deposits ‘Below Rupees One Crore’ have been revised. The revised interest rates are as under :

(All figures in % per annum)

Tenors

Revised For Public w.e.f. 01.11.2017

Revised for Senior Citizens w.e.f. 01.11.2017

7 days to 45 days

5.25

5.75

46 days to 179 days

6.25

6.75

180 days to 210 days

6.25

6.75

211 days to less than 1 year

6.25

6.75

1 year

6.25

6.75

Above 1 year to 455 days

6.25

6.75

456 days to less than 2 years

6.25

6.75

2 years to less than 3 years

6

6.5

3 years to less than 5 years

6

6.5

5 years and up to 10 years

6

6.5

2. Revision in Interest Rates on Domestic Bulk Term Deposits (Rs.1 Crore To Rs. 10 Crore) w.e.f. 30.01.2018
The revised Interest rates on ‘Domestic Bulk Term deposits (Rs.1 Crore To Rs. 10 Crore)’ with effect from 30th January, 2018 will be as per the following table:

(All figures in % per annum)

Tenors

Revised w.e.f 30.01.2018

Revised for Senior Citizen w.e.f. 30.01.2018

7 days to 45 days

5.25

5.75

46 days to 179 days

6.25

6.75

180 days to 210 days

6.25

6.75

211 days to less than 1 year

6.25

6.75

1 year to 455 days

6.25

6.75

456 days to less than 2 years

6.25

6.75

2 years to less than 3 years

6

6.5

3 years to less than 5 years

6

6.5

5 years and up to 10 years

6

6.5

3. Revision In Interest Rates On Domestic Bulk Term Deposites (above Rs. 10 Crore) w.e.f. 30.01.2018
The revised Interest rates on ‘Domestic Bulk Term deposits (above Rs. 10 Crore) with effect from 30th January, 2018 will be as per the following table:

The interest shall be 0.50 per cent or 1 per cent below the rate applicable at the time of Deposits for the period deposit remained with SBI or 0.50 per cent or 1 per cent below the contracted rate, whichever is lower. However, no interest will be paid on deposits which remain for a period of less than seven days.

Loan facility
Loans / OD up to 90 per cent of the principal deposit are allowed.

Nomination facility
Nomination facility on SBI FDs is available.

Tax Deducted at Source (TDS)
TDS at the prevalent rate is deducted at source if Form 15G/15H is not submitted.